The pace of life is increasingly becoming faster. Now, it is possible to carry out multi-million dollar deals on your phone at the click of a button. There is an app that serves almost every purpose, including estate planning.
DIY will templates are very common and promoted all over – but you should really think twice (or maybe more) before you use one.
Who is accountable?
The most likely place to find a DIY will is on a website. In all likelihood, you’ll be made to sign a disclaimer that frees the site from liability should anything go wrong. If you get some experienced guidance when drafting your will, then the chances of mistakes are much less likely. If something does go wrong, you have a tangible person in a fiduciary role who can be held to account.
Are there legal inaccuracies?
Online will templates can be very generic. This is problematic because the wording in statutes from state to state tends to be very specific, particularly with regard to estate planning. One technical error could be all it takes to make your will completely invalid. This means that all the time and money you have spent on a DIY will have been wasted.
At first, it may seem like a DIY will is a cheap alternative to having a will drafted on your behalf, but it can actually be counterproductive. You could create confusion for your heirs, instead of making things easier.
Your will must serve a purpose, carrying out your final wishes. To do so, it must be accurate and legally watertight. This is something that DIY templates can’t offer. You’ll be better served if you seek legal guidance when drafting estate planning documents.